Cadence Design Systems, Inc. (NASDAQ:CDNS) Q3 2024 Earnings Call Transcript October 28, 2024 5:00 PM ET
Company Participants
Richard Gu - VP of IR
Anirudh Devgan - President and CEO
John Wall - SVP and CFO
Conference Call Participants
Joe Vruwink - Baird
Jason Celino - KeyBanc Capital Markets
Gianmarco Conti - Deutsche Bank
Lee Simpson - Morgan Stanley
Charles Shi - Needham
Jay Vleeschhouwer - Griffin Securities
Vivek Arya - Bank of America Securities
Clarke Jeffries - Piper Sandler
Harlan Sur - JPMorgan
Ruben Roy - Stifel
Siti Panigrahi - Mizuho
Joshua Tilton - Wolfe Research
Operator
Good afternoon. My name is Brianna and I will be your conference operator today. At this time, I would like to welcome everyone to the Cadence Third Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] I will now turn the call over to Richard Gu, Vice President of Investor Relations for Cadence. Please go ahead, sir.
Richard Gu
Thank you, operator. I would like to welcome everyone to our third quarter of 2024 earnings conference call. I'm joined today by Anirudh Devgan, President and Chief Executive Officer; and John Wall, Senior Vice President and Chief Financial Officer. The webcast of this call and a copy of today's prepared remarks will be available on our website, cadence.com.
Today's discussion will contain forward-looking statements, including our outlook on future business and operating results. Due to risks and uncertainties, actual results may differ materially from those projected or implied in today's discussion. For information on factors that could cause actual results to differ, please refer to our SEC filings, including our most recent Forms 10-K and 10-Q, CFO commentary, and today's earnings release. All forward-looking statements during this call are based on estimates and information available to us as of today and we disclaim any obligation to update them.
In addition, core financial measures discussed on this call are non-GAAP unless otherwise specified. The non-GAAP measures should not be considered in isolation from or as a substitute for GAAP results. Reconciliations of GAAP to non-GAAP measures are included in today's earnings release.
For the Q&A session today, we would ask that you observe a limit of one question and one follow-up. Now, I'll turn the call over to Anirudh.
Anirudh Devgan
Thank you, Richard. Good afternoon, everyone, and thank you for joining us today. Cadence delivered exceptional results for the third quarter of 2024 with broad-based strength across our product portfolio. We are on track for a strong second half and we are pleased to raise our full year EPS outlook. John will provide more details on our financials in a moment.